Monthly Archives: March 2014

Automatic Payments

CPA, which stands for Continuous Payment Authority is a type of automatic payment. Many payday lenders set it up on your bank account when you take out a loan with them and if they do it basically allows them to take money out of your account whenever they want. Usually they’ll use it to collect the repayment of your loan on it’s due date, but if you’re unable to repay it then they’ve been known to use it to make several attempts to pull the funds from your account. They can take payments for different amounts and they can take payments as and when they please, so let’s say for example you’re loan repayment was £125 but you didn’t have enough to repay it, they might decide to use the CPA to try and take £10 from your account each day until the amount is repaid.

Unfortunately though each time they make an attempt to take the money if you’re bank account has insufficient funds then the payment will bounce and your bank will most likely issue you with a charge. Since you’re already shot of cash and struggling to repay your loan the last thing you want is to be faced with additional charges from the bank making the situation even worse. If you are aware that you are going to struggle with your loan repayment then it’s a good idea to cancel this Continuous Payment Authority before they attempt to take payment as mentioned here.

You have 2 options for cancelling CPA, you can either contact the company directly and ask them to cancel it or you can go the bank and do it yourself. If you do decide to go to the bank and cancel it at your end then it’s recommended that you let the company know what you’ve done in case you have to make further payments as they will need to know how you plan on repaying them. Similarly if you contact the company and ask them to cancel it they may tell you that you can’t, however it is your right to cancel it directly with your card issuer so make sure you let them know that.

If you cancel CPA then it will stop automatic payments being taken from your account, however should any money come out after the date you cancelled CPA then it will be classed as an unauthorised transaction and you should be able to get a refund from your card issuer.

Currency Exchange

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Buying a Home

Are you thinking about getting a mortgage in the near future? If so, you may need to buy insurance on that policy. The good news is that you can still afford to buy your home of choice even if you have to pay for mortgage insurance.

Typically, you will pay 1 percent of the mortgage amount each month. On a $100,000 home, you would pay as much as $100 a month. In addition, you may also be required to pay an upfront mortgage fee that is equal to 1 percent of the purchase price of the property.

However, the cost of the upfront insurance is rolled into your mortgage and may not impact the amount that you would have to put down to buy the home. In some cases, this amount can be refunded if you refinance your mortgage shortly after buying your home.

Don’t let the specter of having to buy mortgage insurance dissuade you from buying a home that you will really love. You can find out the cost of mortgage protection insurance by asking your real estate agent ahead of time or by doing research online. By doing your homework now, you will know exactly how much it will cost to own your home, and you can create and effective budget as a homeowner.

What Is A Short Term Loan? Find Out Here!

Like many people, you may find yourself needing some extra cash in a hurry. Many things influence these kinds of situations so more people are turning to short term loans. There are many things you must know before taking out a one of these loans.

It is wise to borrow the smallest amount possible. While true emergencies do happen, some lenders charge so much interest that you would be better off finding funds elsewhere if you can. Minimize these costs by just getting a small loan.

Many people choose loan brokers rather than direct lenders as a way of cutting out the legwork. Make sure you understand whether this is a free service or whether you will pay a broker fee. Some people are shocked when they see companies charge them just for getting the loan. Be bold about asking questions in regards to these fees. If you want the best deal you should invest the time researching the lenders themselves to see what they offer.

Another thing to decide is whether you are best suited by single payment loans or instalment loans. As the name suggests, a single repayment loan will need to be paid, in full, with interest, in 1 go, whereas an instalment loan, while overall may cost more, is payable in several smaller chunks. Very often these are available in 3 month loans, 6 month loans and even 9 month loans. Keep your eye out for single repayment lenders that do things such as repeatedly allowing you to roll over finance charges to the next month. This results in people paying all of the fees without ever paying back the loan. It is not uncommon to pay up to 5 times the original loan amount before you are free of the loan.

Do the necessary background check on the companies that you plan to get a loan with; some of these companies may cripple you with their hidden fees or high interest rates. Try to find one that has a good reputation as well as a few years of business behind it. That way, you can hopefully steer clear of scammers.

Having chosen a lender, it is essential to tell the truth on your loan application. Lying on your application might be tempting in order to get a loan approved or a higher loan amount, but it is, in fact, fraud, and you can be charged criminally for it.

Additionally, the lenders will make an assessment of affordability using the details you give. If you lie, you may get a loan that is unaffordable and this will be just the start of your troubles.

Remember that the money that you borrow is going to need to be repaid. You must be sure that you are going to have the money to repay the loan. This is true whether you go for a single payment loan or one of the instalment loans options.

Take the time to research other options before you apply for a loan. Even a cash advance from your credit card could result in a lower interest rate. Speak with your loved ones and ask for assistance. If you aren’t backed into a financial corner, these high interest loans can put you into a much worse financial situation if you aren’t smart. There is no room for error within the contracts that the lenders will expect you to sign. Therefore, be practical when determining if a short term loan is a reasonable choice.

Don’t overlook the future costs of instalment loans either. Do not just allow for the repayment this month, if for example you take 3 or 6 month loans make sure you include the repayments for each and every month. This can help you to create a well-designed budget.

It is also worth looking at other options that do not involve borrowing more funds from anywhere. This may involve a free of charge debt management plan, or debt counselling.  If part of your financial problem is other loan, why not try speaking with these creditors. You may get a plan that means you do not have to borrow to pay your debts.

The above article has, hopefully, provided you with short term loan advice to help you sort out your financial hardships. These loans can have a lot of advantages, but you must be fully informed of what is involved and be able to repay the loan by the terms. Take the necessary steps to get your finances back on track by making the best possible use of this article’s advice.

Turnkey Printing

From my personal experience I can say with confidence that printing can mean a lot of fun. If you have some nice things to print, you will always enjoy the thrill of being able to place on paper something that you visually enjoy such as a poster for instance. And there is also turnkey printing, which comes in handy in a number of situations. You just need to know how to use such services, which is very easy by the way.

How to Dress on a Budget

Since I dedicate a lot of time on this blog to talking about finances, allow me to talk about budget shopping for a while. You will be especially interested in some budget shopping if you struggle with money. One advice that comes to my mind is to buy items online such as these women’s t shirts. I have been buying clothes online for some time now, and I only have positive memories from every transaction that ever took place in my life.

Pension tips for a more productive pension

Pensions are probably far from the minds of most of us as we think of the here and now and the bills that are coming at the end of the month. However, none of us can stop the aging process and the fact is that we will all get old and eventually become unable to work, so a pension is pretty essential.

Make a pension part of your monthly budget

Saving for a pension is something we all should add to our monthly budget. It helps to think of the pension saving as a bit like tax: essential. It also helps to set up a direct debit so the pension saving payment goes out at the end of the month, just like any other bill. This way you will see your pension build up and accumulate and will avoid that horrible realisation that old age is fast approaching and there is no financial provision made for it. If you have no spare cash to invest in a pension, why not make an effort to cut your bills around the house.

This can range from being more sensible with wrapping up warm to using internet comparison sites to ensure you’re getting the best deals on your online grocery shopping, If you’re also one of the many broadband users who surfs exclusively on their smartphone I’d also recommend exploring the options for switching to a lower cost provider. I heartily recommend mobi-data.co.uk who supplies me with my mobile broadband for a fiver a month. The other aspect to note about shopping around for better deals is the life span of the contract you are signing up for, smart phone are notorious for a 2 year contract deal but mobi-data will offer you services on a one month rolling contract with no long term obligation – which is really useful as you have the flexibility to opt out of the payments whenever you need to tighten your belt. Look for this flexibility in all of your subscriptions if possible.

Ensure you take account of the fact that you will probably live longer

In our pension planning, we really should make provision for the fact that we will probably live much longer than our parents did, thanks to advances in medicine and technology. As such the pension planning process should reflect that we are all expected to live a bit longer.

Postpone your retirement is always a pension booster is possible

In light of the fact that we all live longer these days, it is a good idea to think of postponing any retirement and this is an idea that even the UK government has acted on by raising pension ages. This affords an excellent opportunity to save a bit more and put a bit more into the pension pot. Moreover, it ensures that we don’t get bored in our retirement. Looking at the plus side of continuing to work is a good idea: work keeps you occupied and entertained, particularly if you are doing something you enjoy. Moreover, there is a lot of evidence that inactivity and too much downtime for the older generation is actually a disadvantage as it advances the aging process and can often lead to boredom, frustration and even depression for the retired person.

Additionally, postponing retirement means that we can afford to do more than just make provision for necessities; it means we can improve the quality of the retirement experience and ensure that retirement is something we enjoy to the full as we are supposed to! Postponing retirement also ensures we have that little bit of extra cash to give to loved ones of they are in need of a little financial support. Most retirees don’t just have themselves to think of, but they may find that the average pension plan, planned several years ago does not take account of a family that has expanded and now includes a network of kids, grandkids and great grandkids!